Foreign banks pour investment into Vietnam
(VOVWORLD) - The International Finance Corporation (IFC), a member of the World Bank Group, has provided a financing package of 70 million USD to Indo Trans Logistics Corporation of Vietnam (ITL Corp).
 Photo: ITL corp |
The loan is part of efforts to support the development of Vietnam’s logistics industry, to facilitate trade and to improve the economy's competitiveness amid the COVID-19 pandemic.
Bac Giang LGG Garment Corp - a Vietnamese protective workwear maker - said it had received a financial support package worth 12.7 million USD from Standard Chartered to boost its production line of COVID-19 safety suits and masks.
Nirukt Sapru, CEO of Standard Chartered ASEAN & South Asia, said the bank stood shoulder to shoulder with the Vietnamese garment maker in the fight against COVID-19.
In another development, HSBC Vietnam became the first foreign-owned bank to issue bonds worth 26 million USD in Vietnam.
Tim Evans, director-general of HSBC Vietnam, said the bank is committed to Vietnam in the long term and has plans to expand its operation and capital in the future.